Delixy Holdings Ltd
What Do They Do?
Trades crude oil and oil-based products to refineries, trading companies and wholesalers across Southeast Asia, East Asia and the Middle East.
20-F for FY2025, filed Apr 30, 2026
How Do They Make Money?
Customers buy crude oil and oil-based products in individual trades, with sales occurring when the goods are transferred; Delixy can extend credit to buyers.
20-F for FY2025, filed Apr 30, 2026While we maintain a close and longstanding relationship with our customers and suppliers and are reliant on a small number of key customers…View ↗
Revenue from sales of goods and services in the ordinary course of business is recognized when the Company satisfies a performance…View ↗
Financial years ended December 31, 2023 2024 2025 US$’000 US$’000 US$’000 Revenue recognition at a single point in time: Sale of crude oil…View ↗
Most suppliers of crude oil and oil-based products require payment on delivery with minimal credit terms and this lack of flexibility may…View ↗
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20-F for FY2025, filed Apr 30, 2026
FY2025 revenue by product or service ↗
$307.7M
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20-F for FY2025, filed Apr 30, 2026
$307.7M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Sale of crude oil
Sold outright
20-F for FY2025, filed Apr 30, 2026 |
59%
FY2022: 73%
|
Sale of crude oil, FY2025
$182.6M Sources
|
Sold outright |
|
Sale of oil-based products
Sold outright
20-F for FY2025, filed Apr 30, 2026 |
41%
FY2022: 27%
|
Sale of oil-based products, FY2025
$125.2M Sources
|
Sold outright |
Who Are Their Customers?
Refineries buy crude oil, while trading and wholesale businesses buy crude oil and oil-based products. Buyers purchase from Delixy under sale agreements rather than standing customer contracts.
20-F for FY2025, filed Apr 30, 2026Our customers for crude oil are mainly refineries and trading companies in Southeast Asia, East Asia and the Middle East. Our customers for…View ↗
We generally procure our oil-based products from suppliers in the PRC, Singapore, Malaysia and Europe to sell to our customers comprising…View ↗
While we maintain a close and longstanding relationship with our customers and suppliers and are reliant on a small number of key customers…View ↗
Do Revenues Turn Into Profits?
No. It lost $4.5M in FY2025.
20-F for FY2025, filed Apr 30, 2026
How Are They Changing?
Flat. Revenue was $307.7M in FY2025, about the same as the $319.8M of FY2022.
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